VA Fiduciary Bonds

What Is a Fiduciary?

The definition of a fiduciary is an individual given power over someone else’s interests and assets. 

Veterans or beneficiaries who are unable to manage their financial affairs due to disease, injury, age or other factors need a fiduciary. VA fiduciaries are usually family members or close friends who can make decisions in the veteran’s best interest. When there is no one qualified to serve, the court will assign a fiduciary.

SuretyBonds.com is licensed to sell VA fiduciary bonds in every state. We offer the best service, fastest delivery and most affordable prices in the industry.

What Is a VA Fiduciary Bond?

VA fiduciary bonds protect veterans from unlawful or unethical behavior by the fiduciary. These bonds ensure veterans or their dependents receive VA benefits to which they’re entitled.

Who Needs a VA Fiduciary Bond?

Fiduciaries are required to get a surety bond if they manage more than $20,000 of VA funds for the beneficiary.

Those who are not required to have a surety bond when acting as a veteran's fiduciary include:

• Spouses
• Court-appointed fiduciaries
• Trust companies or banks
• Fiduciaries residing in the Commonwealth of Puerto Rico, Guam or other U.S. territories.

How Much Does a VA Fiduciary Bond Cost?

The surety bond requirement for a VA fiduciary is based on the estate's value. Most VA fiduciary bonds cost between 0.5% and 2% of the total bond amount depending on the application’s underwriting review, including court documents and the applicant’s financial credentials. 

The VA authorizes the deduction of fiduciary surety bond costs from beneficiaries’ funds. 

Can I Get a VA Bond with Bad Credit?

Poor credit score is typically not a roadblock to getting approved for a VA bond. With our Bad Credit Bonding Program, we approve 99% of applicants.

How Do I Become a Fiduciary for a Veteran?

To act as a VA-appointed fiduciary, submit a request to your regional VA office. Along with your request, include the beneficiary’s name, VA file number, your name and your contact information.

How Do I Apply for a VA Fiduciary Bond?

Getting a VA bond is quick and easy with SuretyBonds.com. 

1. Fill out our quick online quote application or give us a call. 
2. Pay your premium once your application is approved.
3. Receive your bond documentation in the mail. 
4. File the original surety bond form with the VA office.

What Are the Responsibilities of a VA Fiduciary?

Veterans affairs fiduciaries are responsible for veterans’ interests and assets. This includes duties such as:

• Using funds for daily needs and living expenses
• Collecting any unpaid debts
• Investing and managing funds safely 
• Reporting any fiduciary information changes
• Keeping complete and accurate financial records 

Visit the Department of Veterans Affairs website for more information.